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Economy in Brief

State Labor Markets in October 2022
by Charles Steindel  November 18, 2022

State labor market results in October were softer than in the last couple of years, though not very weak. Seven states had statistically significant increases in payrolls, with Colorado's .8 percent gain the largest in those terms. California picked up more than 50,000 jobs, and Texas slightly short of that. Over the last 12 months, every state (and DC) saw a gain in payrolls, thought the increases in Alaska, DC, Mississippi, and Wyoming were not deemed to be statistically significant. Florida and Texas were the only states to see gains of at least 5.0 percent (California's absolute increase was a hair larger than Texas's.

A full 24 states experienced statistically significant increases in their unemployment rates from September to October (Pennsylvania's fell .1 percentage point to 4.0 percent), but in the vast majority of cases these were, in absolute terms, fairly modest. Only Maryland's .5 percentage point rise (from 4.0 to 4.5 percent) would normally be considered large. Unemployment rates remain fairly low across the nation DC's rate is the highest tin the nation, at 4.8 percent, while Illinois and Nevada are both at 4.6 percent. Seven states have rates of 2.4 percent or lower.

Puerto Rico's job count was little-changed, and for a second straight month there was insufficient information to compute the unemployment rate on the island.

Viewpoint commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
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